😠A16z's 'Techno-Optimist Manifesto' Neglects To Mention Crypto
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The "Techno-Optimist Manifesto" from Marc Andreessen, the co-founder of the major web3 VC firm, a16z, conspicuously makes no mention of cryptocurrency. 22% of a16z's $3.5B in active capital is invested in web3.
Reddit, the popular social media platform, is discontinuing its Arbitrum-based "community points" tokens. The two tokens suffered losses of 85% and 51.5% respectively.
The Fantom Foundation lost $550,000 to an exploit targeting one of its wallets. A Fantom employee also lost $3.4M to the hacker.
EtherFi's liquid staking token, eETH, is now live on Ethereum's Goerli testnet. Its mainnet deployment will gov live on Nov. 6 and offer exposure to both staking rewards and restaking yields.
The total value locked in Scroll jumped 450% in 48 hours after the began promoting its mainnet deployment. The spike followed a sluggish debut week for Scroll following its stealthy mainnet launch.
Plus, the team behind the dYdX protocol is now a Public Benefit Corporation. As such, dYdX Trading Inc. won't generate trade fee revenue from its upcoming v4 iteration.
✍️ In today’s newsletter:
- Cryptocurrency absent from a16z essay
- Reddit abandons crypto-powered rewards
- Fantom Foundation exploited for $0.5M
- EtherFi schedules mainnet for restaking LST
- Scroll TVL up 450% on marketing push
- dYdX developers restructure into Public Benefit Corporation
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